Issue - meetings

Report of the Executive Director (Finance and Transformation) on the capital expenditure and associated capital funding as at the end of March 2023.

That Cabinet noted the overall capital outturn position and financing for 2022/23 and approved the re-phasing of budgets into 2023/24 as detailed in Appendix A of the report.

The report set out the capital expenditure and associated capital funding as at the end of March 2023 detailing the changes to the original capital programme and funding plans, as a result of programme commitments and project delivery.

DECISION TAKEN

Cabinet noted the overall capital outturn position and financing for 2022/23 and approved the re-phasing of budgets into 2023/24 as detailed in Appendix A of the report.

REASONS FOR THE DECISION

The current approved capital budget was £176.485m (which included the approved rephasing of budgets from 2021/22) and the outturn position (including proposed re-phasing of budgets into 2023/24) was £103.245m. A summary of variances to budget and re-phasing is shown in Table 1 and detailed explanations for key variances in Section 3.4. 1.3 A financing outturn table showing how the capital programme has been funded is set out in Section 4 of this report.

During this item Councillor Broach requested that progress be made on the £1m re-phasing of Angerland Football and Rugby Schemes.